SBI Shares Face Resistance At ₹850–₹910: SEBI RAs See Long-Term Upside Amid Q4 Slowdown

SEBI-registered analysts highlight SBI's solid fundamentals, including strong asset quality and steady growth in advances, while noting short-term challenges due to regulatory hurdles and market resistance levels.

Shares of State Bank of India may face resistance in the near term amid institutional supply pressures, though analysts remain cautiously optimistic about the bank’s long-term prospects following its fiscal fourth-quarter results.

SBI's stock was down 0.94% at ₹792.50 at the time of writing.

SEBI-registered analyst Prameela Balakkala said the stock faced a strong resistance zone between ₹850 and ₹910, with technical indicators suggesting neutral momentum. 

She noted the relative strength index (RSI) stood at 55, indicating the stock was neither overbought nor oversold. 

The upside, she added, appeared capped unless a breakout occurred on strong volumes.

Balakkala cited the bank’s Q4 FY25 performance, where net profit declined 9.9% year-on-year to ₹18,643 crore due to higher provisions. 

Net interest income rose 3% to ₹42,774 crore, while asset quality improved, with gross NPA falling to 1.82%. 

She pointed to SBI’s planned ₹25,000 crore capital raise via a QIP or FPO as a sign of institutional confidence, though she said it could lead to short-term dilution.

SEBI-registered analyst Krishna Pathak maintained a long-term ‘Buy’ rating on the stock, setting 12–24 month targets at ₹979 and ₹1,077. 

He pointed to steady loan and deposit growth, with advances rising 12% year-on-year to ₹42 lakh crore, and deposits increasing 9.5%. He also highlighted improved asset quality, with net NPA (non-performing assets) declining to 0.47%.

Pathak identified support near ₹740–₹760, calling it a potential accumulation zone. 

He noted the stock had been consolidating between ₹760 and ₹800 after a sharp rally from mid-2023 lows near ₹520. 

He placed initial resistance between ₹800 and ₹820, supported by technical indicators including a bullish MACD (moving average convergence divergence) crossover and RSI near 58.

While Balakkala focused on potential selling pressure near the ₹910 level, Pathak saw room for gradual accumulation at lower bands. 

Both analysts stressed the need for volume confirmation and regulatory clarity as key factors to watch in the coming weeks.

Shares of SBI have fallen 0.6% so far this year.

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